|Announcement Title||Change - Announcement of Cessation|
|Date & Time of Broadcast||Mar 18, 2020 19:54|
|Announcement Sub Title||Resignation of Executive Director - Lim Tow Huat|
|Submitted By (Co./ Ind. Name)||Mohamed Ismail s/o Abdul Gafoore|
|Designation||Executive Chairman and CEO|
|Description (Please provide a detailed description of the event in the box below)||UOB Kay Hian Private Limited is the sole issue manager of the initial public offering and listing of PropNex Limited. UOB Kay Hian Private Limited assumes no responsibility for the contents of this announcement.|
|Name Of Person||Lim Tow Huat|
|Is effective date of cessation known?||Yes|
|If yes, please provide the date||18/03/2020|
|Detailed Reason (s) for cessation||This is as part of the Board restructuring following the Nominating Committee's and the Board's review and deliberation on the composition of the Board in compliance with provisions 2.2 and 2.3 of the Code of Corporate Governance 2018 and the Listing Manual of the Singapore Exchange of Securities Trading Limited.
Mr Lim Tow Huat has voluntarily resigned as Executive Director of the Company. He remains with the Company as management personnel with no change to his day-to-day responsibilities in his executive role in the Company.
|Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?||No|
|Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?||No|
|Any other relevant information to be provided to shareholders of the listed issuer?||No|
|Date of Appointment to current position||10/01/2018|
|Does the AC have a minimum of 3 members (taking into account this cessation)?||Yes|
|Number of Independent Directors currently resident in Singapore (taking into account this cessation)||3|
|Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months||0|
|Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)||Executive Director|
|Role and responsibilities||He is responsible for formulating the Group's corporate strategies, analysis of various potential business development opportunities and growing its business portfolio. He also oversees the recruitment of PropNex's salespersons.|
|Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries||No|
|Shareholding interest in the listed issuer and its subsidiaries?||Yes|
|Shareholding Details||221,920,350 deemed interest which includes a) 205,844,129 shares held by P & N Holdings Pte. Ltd.; and b) 16,076,221 shares held by him through the nominee accounts maintained with UOB Kay Hian Private Limited.|
|Past (for the last 5 years)||None|
|Present||PropNex Realty Pte. Ltd.
PropNex International Pte. Ltd.
PropNex Property Management Consultants Pte. Ltd.
PropNex Grandeur Homes Pte. Ltd.
Life Mastery Academy Pte. Ltd.
PropNex International Sdn. Bhd.
Singbuilders Development Pte. Ltd.
P & N Holdings Pte. Ltd.
P & N Property Investment Pte. Ltd.
Singbuilders Pte. Ltd.
P&N Development Private Limited